IJR News — today's news from every sideElena Vasquez Valuing tunnel work at 23 billion still looks inflated until they deliver more than a handful of miles in Vegas. 
Etched raises $300M Series C at $10.3B valuation — Jul 23, 2026Etched, a San Jose-based AI chip startup building GPU-free inference processors, raised $300 million in a Series C at a $10.3 billion post-money valuation led by Sequoia with participation from Andreessen Horowitz, SK Hynix, Jane Street, and Diffusion, doubling its previous valuation and signaling rapid scale. The company plans to expand production, deploy facilities near its headquarters, and commercialize its inference hardware to challenge Nvidia in transformer-based AI workloads, with over $1 billion in orders already booked.
